EB Watch List Update Report

Dear Members: MARKET UPDATE A mixed picture as we begin a new trading day and week and as the month of July comes to an end. Clearly traders are looking for safety these days with the Dow putting in another all time high. That all time high has pushed the Dow into technically overbought territory with stochastics hitting 99 and a RSI of over 70. Since stochastics can't really go higher than 99, this qualifies as very overbought. The NASDAQ continues to struggle as traders move away from some of the high fliers, including Amazon and Alphabet. The NASDAQ came within one point of Friday's low before bouncing some. A key level of support on the NASDAQ is at 6322, representing the 20 day moving average. Now traders are awaiting earnings from the largest market cap company in the world, Apple, who will report its earnings after the bell tomorrow. The S&P is flat today; it's no longer technically oversold. Key support is now at 2459, a level the bulls don't want to lose.The VIX is trading back above both its 20 and 50 day moving averages; back to at least one finger on the sell button. I wish I could find some good reasons to be long here but I can't. At a minimum need to be very selective. Yes, the Dow did hit an all time high today but that represents just 30 stocks compared to the NASDAQ that represents thousands of stocks. In addition, we are getting ready to move into the month of August, just when the last of the really important companies (AAPL) is about to report earnings. In fact, AAPL's report and the response to its numbers could help determine the short term direction of the market. We'll have a better sense of that over the next 1-2 days. KEY EARNINGS REPORTS Key Companies reporting earnings today (July 31) include: Before Market Opens: DO, L, SERV and SOHU After Market Closes: FICO, HLS, OI and SBAC Key Companies reporting earnings tomorrow (August 1) include: Before Market Opens: ACCO, AC, CME, CNX, CMI, ETN, EMR, STAY, HRS, HMC, IGT, LBY, LL, MLM, MOS, BTU, PFE, PSX, PBI, RDN, RCL, SPG, SNE, S, TRI, UA and XRX After Market Closes: AEGN, ALL, AAPL, AIZ, BZH, BXP, CBT, DVN, RRD, FEYE, FISV, HBI, HLF, ILMN, KMPR, PZZA, RSYS, TEX, UIS and VVV ADDITIONS TO WATCH LISTS: Will keep you posted on any new additions BRIEF COMMENTS ON SELECT WATCH LIST STOCKS: SHORTS: None at this time LONGS: Large Cap Watch List None at this time Mid Cap Watch List None at this time Small Cap Watch List None at this time DELETIONS FROM THE WATCH LIST None at this time At your service, John Hopkins EarningsBeats